LRP III Luxembourg Holdings S.a r.l. Announces Sale of Common Shares of Chinook Energy Inc.

CALGARY, ALBERTA--(Marketwired - July 28, 2014) -

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LRP III Luxembourg Holdings S.à r.l. ("LRP") announces that it sold 16,114,092 common shares of Chinook (the "Shares") on the facilities of the Toronto Stock Exchange on July 25, 2014. LRP III sold the Shares at a price of $2.23 CAD per share, for an aggregate sale price of $35,934,425 CAD. The Shares sold represent approximately 7.52% of the outstanding Shares. The Shares sold represent all of LRP's security holdings in Chinook.

Mr. Townes Pressler, a Managing Director of Lime Rock Partners, in his former capacity as a member of the Board of Directors of Chinook, held an aggregate of 100,000 options to purchase Shares, 66,666 of which were exercised by Mr. Pressler on a cash-less basis for an aggregate of 19,276 Shares and registered in the name of, and currently held by, Lime Rock Management LLC.

LRP III sold the Shares in the normal course in accordance with its investment objectives. LRP III may in the future take such actions in respect of securities of Chinook as it may deem appropriate in light of the circumstances then existing, including the purchase of additional shares or other securities of Chinook through open market purchases or privately negotiated transactions.

A copy of the related early warning report has been filed with the applicable securities commissions and further information may be obtained by contacting Hille‐Paul Schut or Patrick Lauria, the Managers of LRP III at: Telephone: 352 263 02271 and Facsimile: 352 263 02272.